Today’s Smart Money Question:
We’ve all heard the phrase about having too many cooks in the kitchen. Matt tells us about a time he found out his client had four different financial advisors. It prompted him to say, “You’ve got what?” That’s where we’ll pick up the story on today’s podcast and learn why having too many advisors causes trouble.
Here Are Just a Handful of the Things That You’ll Learn:
You’ve Got What? Too Many Cooks.
- [2:28] – “You’ve got what?” Matt said as he found out his client was working with four different financial advisors. While each advisor specialized in specific financial areas, none of them were able to see the big picture of his client’s finances. This is a problem. You want to work with an advisor who can build you a comprehensive retirement plan.
Where To Get Advice.
- [5:04] – Where are you going to get your advice? After all, you don’t have to understand what every investment is doing in your portfolio. You just need to know how your investments are working in congruence to benefit you in retirement. Work with a professional who can tell you how your income needs will be met, how to account for long-term care, and how to effectively tax plan. Your advisor should be good at building financial plans, not pushing products.
The Answer:
More From Matt:
The host: Matt Hausman – Contact – Resources – Call: 610-719-3003
